We're part of the New Zealand government Deposit Guarantee Scheme

So what does this mean for you?

It means that the Government guarantees the money you have deposited with us – as well as the interest you earn from your deposits. The guarantee has been offered for a term of two years from 12 October 2008.
Our inclusion in the scheme provides you with further reassurance of our security.

Some important points about the Guarantee Scheme:

All of PSIS’s deposits and debt securities, except PSIS Capital Notes and the PIE Term Fund, are covered by the scheme.
There is a deposit limit of $1 million per depositor per financial institution covered by the scheme.
The guarantee applies to deposits held by New Zealand citizens and New Zealand tax residents.*

Why was the scheme introduced?

The Government introduced the scheme to ensure ongoing depositor confidence in New Zealand given recent international financial market turbulence. While the New Zealand banking system remains sound this move is to give further assurance to New Zealanders about the security of their deposits.

How do I find out more information on the scheme?

Further details on the scheme, including a list of approved financial institutions, can be found on the New Zealand Treasury website at www.treasury.govt.nz

* Some limited exceptions apply. For full details, visit www.treasury.govt.nz

PSIS is not a registered bank, but a very co-operative co-operative.

Interest rates are subject to change. All deposits are secured by First Ranking Stock and rank equally with all existing deposits with PSIS Limited. An Investment Statement and a current registered Prospectus are available from any PSIS branch or can be downloaded here. For all lending products, PSIS Limited lending and insurance criteria, and fees apply.